Buffett's Mobile-Home Unit Should Be Probed, Lawmakers Say
- Newspaper article alleged higher loan rates for minorities
- Maxine Waters: Reports `present a disturbing business model'
Model homes are on display at Clayton Homes of Mesa in Mesa, Ariz., on March 3, 2009.
Photographer: Laura Segall/ BloombergThis article is for subscribers only.
U.S. lawmakers called for federal investigations into Clayton Homes, the mobile-home business at Warren Buffett’s Berkshire Hathaway Inc., after the Seattle Times and BuzzFeed News wrote that the company targeted minority borrowers and charged them higher interest rates on average than whites.
Representative Maxine Waters, the top Democrat on the House Financial Services Committee, joined three colleagues -- Democratic congressmen Keith Ellison, Emanuel Cleaver and Michael Capuano -- in calling for the Department of Justice and Consumer Financial Protection Bureau to look into the company.